Accounting for the Arts

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ArtsHub Australia

The financial year is almost over – which means it’s tax time.
Accounting for the Arts

Image: Unsplash

But before you break out into a cold sweat, don't panic!

With the right advice, such as expert accountants who are intimately familiar with the ins and outs of what your arts practice allows you to claim, EOFY doesn’t have to be a headache – it can be a boon.

As to where to find such advice? Look no further.

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intotomorrow.com.au

Running an arts organisation or your own business in Australia can be one of the most rewarding, frustrating and sometimes downright scary things to do. Creating anything requires a lot of energy which is amplified when those creations are then submitted to the jury of peers and public.  Luckily our ego gives us the courage.

When brave enough to exhibit your soul-bearing creations you do so with courage for your ego knows you can do it and have to do it as it is part of who you are. It can be difficult admitting you need help with “dull” things like taxes and accounting. Admission is courageous and will feed your ego when it realises it’s in control. It’s then easy to then find the partner, friend, colleague, business professional to help. 

Into Tomorrow are artists, we get it and can help. 


electrafrost.com.au

Electra Frost is a Chartered Tax Adviser and Accountant with close to 20 years’ experience with the Artistic, Creative and Tech industries. Described by her clients as highly ethical and strategic, endlessly patient and great at explaining tax matters in layman’s terms, Electra enjoys helping her clients grow their creative practices through developing a clear grasp of their financial affairs.

Based in Brisbane, Sydney and Online. Specialist tax and business advisory services for professional individuals, freelancers and small to medium enterprises. A wide variety of accounting services are offered, and referrals to a trusted network of other specialists. Qualified in International Tax, Electra also provides affordable and high-quality tax advice to Australians overseas, by video consultation.

Electra’s practice of 10 years is supported by a close-knit team of employees to ensure that all services are personalised and attentive. Processes are tailored by Electra herself using the best available technology to streamline the delivery of high quality advice and stay connected with clients... wherever they are.

lowensteins.com.au

Lowensteins is one of Australia’s largest provider of consulting, business and taxation services to the arts community.

As a long established firm of Accountants with a strong commercial focus, our clients range from a whole host of business and industry groups.

We offer a tailored and comprehensive package of services to more than 4,000 visual artists, musicians, sculptors, actors, writers, gallery owners, collectors and other creatives Australia-wide. We also act as consultants to individuals and organisations involved with an arts-related issue or transaction, such as Not-for-Profits, Charitable Foundations, Deductible Gift Recipients and Cultural Gifts Program advice.

We have been vocal in lobbying for the rights of artists as demonstrated by the Save Super Art Campaign in 2010, in addition to issues such as Carrying on business, Gifting, Non-Commercial losses and many others.

therealthiel.com

I'm a Chartered Accountant on a mission to educate, empower and motivate creative small business owners to be more organised, more informed, and more profitable. I work with creatives from make up artists to photographers, to actors, to visual artists

I understand that business admin and accounting can be confusing, time consuming and overwhelming when it's not your 'thing'. Let me help you free up your valuable time so you can focus on your creative strengths.

From free downloads, blogs, affordable "info graphics", templates and e-books, we've got all the hot tips you've been looking for! If you are ready to dive a little deeper and want to learn more about accounting and tax, then check out my online courses.

The Real Thiel has got your back. Let's do business.


briantuckercpa.org

Brian Tucker Accounting was established on 1st September 1980, specialising in the arts.

Our services include taxation and compliance for individuals, companies and other entities involved in creative or production activities; associated superannuation funds; audit of film production SPV’s, not-for-profit Indigenous Art Centres, Arts Organisations (service and production) and their peak bodies and other not-for-profit entities supporting, and working with, families and communities in remote and regional Australia.

We’ve been involved in the arts since the days before Betacam and digital media hadn’t been invented; we have, like all artists, moved with the times though!

We do not usually advertise for staff; all of our current team have approached us – they are as dedicated to the arts as individuals as we are as a team. We support the arts and publicly comment on issues of concern to us and are regularly approached by Government inquiries to provide comment and advice.

 

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